Banks show positive results during third quarter

Techcombank announced that pre-tax profit in the first nine months of this year reached 22.8 trillion VND, up 33.5% over the same period last year. In the period, the bank recorded a net interest income (NII) of 26.9 trillion VND, up 33.9% and revenue from service activities was 8.3 trillion VND, up 17.1%. In addition, Techcombank’s insurance service fees reached 594 billion VND, up 29.8%.

At the end of September 2024, Techcombank's total assets reached 927.1 trillion VND, up 9.1% over the beginning of this year.

Meanwhile, LPBank said that its pre-tax profit in the third quarter of 2024 increased by 133% compared to the same period, reaching nearly 2.89 trillion VND. Accumulated for the first nine months, pre-tax profit reached nearly 8.82 trillion VND, up 139% compared to the same period.

The driving force for LPBank’s profit growth in the third quarter of 2024 came from both net interest income and non-interest income. Accordingly, the bank's net interest income increased by 43.5% to nearly 3.78 trillion VND thanks to a sharp decrease in interest expenses of nearly 15%. The bank’s non-interest income from service activities recorded a growth of 519%, bringing in more than 1.01 billion VND.

At the end of the third quarter of 2024, LPBank's total assets reached nearly 446 trillion VND, an increase of 16.4% compared to the end of 2023.

PGBank announced a pre-tax profit of VNĐ76.9 billion in the third quarter of this year, up 35.8% year-on-year. The bank’s accumulated profit for the first nine months of 2024 reached 344.4 billion VND, down 4.4% year-on-year.

In the third quarter, PGBank's net interest income increased by nearly 50% year-on-year, bringing in 416 billion VND and was the main driver for the bank's profit growth. In addition, non-interest income also increased by 34.7%, bringing in nearly 32 billion VND to the bank.

By the end of the third quarter of 2024, PGBank's total assets were 61.8 trillion VND, up 11.4% compared to the beginning of this year. The bank’s outstanding loans reached 36.89 trillion VND, up 4.4% and its bad debt ratio increased from 2.85% to 3.19%.

BaoViet Bank said its nine-month profit was more than 32 billion VND, down about five% year-on-year. The bank said its net interest income increased by 27.4% year-on-year, while its service segment grew by 31%. The bank’s net profit from trading securities also grew by 85%.

As a result, BaoViet Bank's total operating income after the first nine months of this year increased by 14% year-on-year. In addition, the bank said it had reduced operating costs by 4%, but increased its provisioning by 35%.

By the end of September, BaoViet Bank's total assets reached nearly 90.38 trillion VND, up 6.8% year-on-year. The bank’s credit grew by 12%, while deposit increased by 8.3%. BaoViet Bank's bad debt ratio was controlled below 3%./.